6080 Sandstone St · Lakewood, IN 47802

$59,900

3 bd · 2.0 ba · 938 sqft · Manufactured · 61 Days on market

Built 1991 Good condition $64/sqft · 28% above area Est $47k · 28% over

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Schools +2.9/10.0
• Rent growth +2.8/5.0
• Livability +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This renovated 3-bedroom, 2-bath Stylecraft manufactured home offers 838 square feet of move-in-ready living at 6080 Sandstone, Lot 20. Built in 1991 and refreshed in 2025, this home features over $22,500 in quality upgrades including all-new kitchen appliances with dishwasher, new central air conditioning, waterproof laminated vinyl flooring throughout, fully rehabbed bathrooms, and almost all new insulated windows with premium exterior capping (not just shingles). Additional improvements include fresh painting inside and out, a newly sealed roof, premium insulated skirting, and a convenient carport. Enjoy peaceful meadow views from the back of this home, set in a gorgeous, wooded community rated Best Park in Terre Haute 47802 by Business Rate. $375/lot rent per month.

Key facts

• Newly sealed roof
• Carport
• Meadow views

Tags

• NEW KITCHEN APPLIANCES
• FULLY REHABBED BATHROOMS
• NEWLY SEALED ROOF
• PREMIUM INSULATED SKIRTING
• CARPORT
• MEADOW VIEWS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $60k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Vigo County School Corporation (urban): math 32% / reading 37% proficiency, ranked #202 of 301 in IN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.2%/yr); 187 active listings in the ZIP; 60 units permitted in Vigo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Vigo County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 1.2% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $56,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.97% ✓
• Cap rate: 16.70%
• Cash-on-cash: 37.17%
• DSCR: 2.65
• GRM: 4.2

CMA / ARV

• ARV (median comp): $46,917
• List price: $59,900
• Delta: 27.67%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6080 Sandstone St	0.00mi	3/2.0	938 (0%)	0mo	$59,000	$63	100
6213 S Sandstone St	0.11mi	2/1.5 (-1)	840 (-10%)	6mo	$34,500	$41	65

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.23% rent growth · sell at horizon

5-year hold

• IRR: 25.4%
• Equity multiple: 2.02×
• Total profit: $17,142
• Equity at exit: $8,931

10-year hold

• IRR: 31.9%
• Equity multiple: 3.63×
• Total profit: $44,134
• Equity at exit: $5,179

Cash invested: $16,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 47802

• Home prices YoY: -26.8%
• Rents YoY: 1.2%
• Active inventory: 187
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,182 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $453

Break-even live

Break-even rent $608

Max offer price $59,900

Occupancy floor 57%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-03-27
   listed $59,900 Active 780-char remark

   Show marketing remark (780 chars)

   This renovated 3-bedroom, 2-bath Stylecraft manufactured home offers 838 square feet of move-in-ready living at 6080 Sandstone, Lot 20. Built in 1991 and refreshed in 2025, this home features over $22,500 in quality upgrades including all-new kitchen appliances with dishwasher, new central air conditioning, waterproof laminated vinyl flooring throughout, fully rehabbed bathrooms, and almost all new insulated windows with premium exterior capping (not just shingles). Additional improvements include fresh painting inside and out, a newly sealed roof, premium insulated skirting, and a convenient carport. Enjoy peaceful meadow views from the back of this home, set in a gorgeous, wooded community rated Best Park in Terre Haute 47802 by Business Rate. $375/lot rent per month.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,180
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$1,097
• − Repairs & maintenance: −$1,134
• − Management: −$1,134
• − Depreciation: −$1,743
• Taxable income: $4,818
• Est. tax owed @ 24.0%: −$1,156
• After-tax cash flow: $4,281/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab

This renovated 3-bedroom, 2-bath Stylecraft manufactured home offers 838 square feet of move-in-ready living with recent upgrades and a good condition score.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's aesthetic and appeal to potential buyers/renters.
• Both Add a small garden or flower bed near the carport — Improves curb appeal and adds a touch of nature to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the home's aesthetic and appeal to potential buyers/renters. ↑
• Both Add a small garden or flower bed near the carport — Improves curb appeal and adds a touch of nature to the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Vigo County School Corporation
• NCES district ID: 1812090
• Math proficiency: 32% ▼ -10.00%
• Reading proficiency: 37% ▼ -8.00%
• Median HH income: $40,100
• Composite: 28.97/100
• National rank: #6625
• State rank: #202 of 301 in IN

Livability — Lakewood

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Vigo County · 91,193 people
• Metro: Terre Haute, IN
• Population (ZIP): 33,135
• Household income: $57,395
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1102.0

Population outlook (Vigo County) Hauer SSP2

• Today (2025): 106,366 people
• By 2030: 105,674 · -0.7%
• By 2040: 103,731 · -2.5%
• By 2050: 101,200 · -4.9%
• By 2075: 95,674 · -10.1%
• By 2100: 85,910 · -19.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 8% Two or more races 5% Hispanic / Latino 3% Asian 3%
• Common ancestry: Lithuanian 3% Slovak 2% Serbian 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Vigo

• 2024 margin: R (+18.1) · D 40.0% · R 58.1% · Other 2.0%
• 2008→2024 swing: -33.9pp toward R · 2008: 15.8pp · 2024: -18.1pp
• All cycles: 2024: R+18.1 2020: R+14.7 2016: R+15.2 2012: D+0.8 2008: D+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.05%
• Current HPI: 183.0194
• Rent YoY: ▲ 1.23%
• Metro: Terre Haute, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

1 event — show timeline

• 2026-03-27 Listed $59,900 THAAR